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Tag Archives: FBR

Australian police, FBR arrest 5 people in drug smuggling probe

DRUG SMUGGLING

CANBERRA: Five people including a prominent Australian music promoter have been arrested in a joint Australian and FBI anti-drug smuggling operation. The case allegedly involves drug money which was laundered through casinos, New South Wales police said. The probe was sparked by the discovery of A$700,000 ($495,000; £320,000) in cash at a Sydney hotel in 2011. The men face various charges ... Read More »

Inland Revenue Department starts taking measures to stop sales tax theft

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ISLAMABAD: The Inland Revenue Department of the Federal Board Revenue (FBR) has started collecting data of buyers and sellers to stop the theft of sale tax, sources said. Sources revealed that the buyers receive full sales tax of goods that they provided to the big restaurants, hotels and private airlines but showed either a little or zero amount in inventories. ... Read More »

‘FBR devises strategy to check pilferage in transit goods en-route to Afghanistan’

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KABUL: Parliamentary Secretary for Finance, Revenue and Economic Affairs, Rana Muhammad Afzal, informed the National Assembly that smuggled goods worth Rs 21 billion have been confiscated in eight months of the current fiscal year. He said the Federal Board of Revenue has devised a strategy to check pilferage in the transit goods en route to Afghanistan by monitoring through tracking ... Read More »

Rs 64.17m tax evasion: FBR Intelligence prepares seizure reports against Telenor, Pak Telecom

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KARACHI: The Directorate General of Intelligence and Investigation-FBR, Regional Office Karachi, has made a couple of seizure reports against some major importers and companies for mis-declaration of PCT, misuse of FTA and mis-declaration of description, quantity and value. The seizure cases have been made against M/s Telenor Pakistan (Pvt) Ltd and its clearing agent M/s Ahbab Enterprises (CHAL-2034) for mis-declaration ... Read More »

Visitors might be banned at FBR Headquarters from May 1

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ISLAMABAD: As preparations for the upcoming Budget 2015 gain momentum, the Federal Board of Revenue (FBR) is mulling over slapping a temporary ban on visitors at the FBR Headquarters from May 1. Since the staff are busy preparing proposals for the upcoming budget, the main purpose of imposing this ban is to ensure that budgetary proposals are finalised without any ... Read More »

Ayyan Ali case: FBR investigators to meet on Monday to review progress

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Intelligence officials say no evidence that $500,000 was ‘white money’ Bank account holders who transferred huge amounts to supermodel Ayyan Ali also included in investigation ISLAMABAD: The joint investigation committee formed by the Federal Board of Revenue (FBR) to probe Ayyan Ali money smuggling case will meet on Monday to review the progress made so far in the case. The ... Read More »

Gujranwala RTO issues arrest warrants of 30 tax-defaulters

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SIALKOT: Federal Board of Revenue (FBR) Regional Tax office (RTO) Gujranwala has issued the arrest warrants of as many as 30 tax defaulters and impounded ten luxury vehicles of non-taxpayers in Gujranwala Division. According to the FBR officials, RTO Gujranwala Chief Commissioner Mansur Ahmed Bajwa has issued the arrest warrants of the tax defaulters, while a special recovery team under ... Read More »

FBR to take action against corporate companies for not following Finance Bill 2014-15

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ISLAMABAD: The Federal Board of Revenue (FBR) has decided to deal strictly with corporate companies failing to comply with instructions, prescribed in the Finance Bill 2014-15. FBR has granted one week to corporate companies either to deposit 5 percent tax on total value of shared bonus out of profit or pay 5percent shares of total amount of dividends given to ... Read More »

FBR decides to probe Ayyan Ali’s travelling history

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ISLAMABAD: The Federal Board of Revenue (FBR) has decided to investigate the travelling history of the accused Model Ayyan Ali, especially her continual visits to the Romania. As per detail, Model Ayyan has paid visits to Romania many times while she stayed there for more than one month on every visit which is attracting point for the FBR in the ... Read More »

FBR asks IOCO to determine new duty drawback rates on imports, exports

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KARACHI: The Input Output Co-efficient Organisation (IOCO), while following the directives of the Federal Board of Revenue (FBR), has started working to determine new duty drawback rates in cases of imports and exports. According to details, the FBR through a letter has asked the IOCO to determine the new rates of duty drawback and send to the FBR for further proceedings. ... Read More »

FBR restores performance allowance of two officers

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ISLAMABAD: The Federal Board of Revenue has restored the performance allowance (equivalent to 100pc of basic pay) of two officers (BS-18 and BS-17). As per the notification issued by the FBR, the department has reinstated the performance allowance of Large Taxpayers Unit (LTU) Karachi Deputy Commissioner Basit Saleem Shah with effect from February 2, 2015. Similarly, the FBR has restored ... Read More »

FBR Chairman Bajwa impressed by Turkish tax system

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ISLAMABAD: Being overwhelmingly impressed by the Turkish Tax System, Federal Board of Revenue (FBR) Chairman Tariq Bajwa will brief Finance Minister Ishaq Dar on his recent visit to Turkey. “In the upcoming board and council meeting, members of the delegation will inform the finance minister and other officials concerned about their experiences and what they had learnt during their visit ... Read More »

Tariq Bajwa vows indiscriminate action in Ayyan’s money smuggling case

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LAHORE: Federal Board of Revenue (FBR) Chairman Tariq Bajwa has said that all accused in supermodel Ayyan’s money smuggling case will be brought to book without any discrimination. Talking to the media after attending the pre-budget seminar arranged by the Lahore Tax Bar Association, he said that investigation was underway in the model’s case and vowed that everyone found involved ... Read More »

Bajwa to lead six-member delegation on five day visit to Turkey

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ISLAMABAD: Federal Board of Revenue (FBR) Chairman Tariq Bajwa will lead a six member delegation on five day official visit to Turkey today (Saturday) to share experiences and proposals regarding taxation with Turkish experts. The delegation will remain in Turkey till March 26 and will interact with Turkish tax authorities. Revenue Administration is a public institution of Turkish Republic operating ... Read More »

$500,000 smuggling case: FBR’s Inland Revenue grills model Ayyan about income, paid taxes

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ISLAMABAD: Federal Board of Revenue (FBR) Inland Revenue (IR) team has also started investigations from model Ayyan Ali regarding her income and paid taxes. On inquiring, arrested model told IR officials that team should contact the companies to know about paid taxes as the companies, for them she has been working, paid her amount after the deduction of taxes at ... Read More »

FBR starts preparations for budgetary proposals of upcoming budget 2015-16

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Islamabad: The Federal Board of Revenue (FBR) has geared up process for the finalisation of budgetary proposals for upcoming budget of fiscal year 2015-16 as the Customs and Inland Revenue wings have started collection of data and compilation reports in this regard. The main thrust of the FBR will be on elimination of tax exemptions, a source at the FBR ... Read More »

FBR asks Customs Valuation Department to send data of amended Valuation Rulings

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KARACHI: Federal Board of Revenue (FBR) has directed to the Directorate General Customs Valuation to send the data of items those Valuation Rulings been re-valued or amended more than once. Sources said that FBR has asked the list of items with a view to evaluating the method to be adopted to streamline the working of the Valuation Department. Sources informed ... Read More »

FBR is not taking advance from banks on 15% interest: Shahid Hussain

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ISLAMABAD: Federal Board of Revenue (FBR) Official Spokesman and IR-Policy Member Shahid Hussain Asad has said that there have been some reports in the press that the FBR is getting advance from banks and paying a 15 percent markup on it. He said this is a baseless allegation and the FBR is not involved in any such activity. He further said ... Read More »

FBR’s punctuality orders irk Customs officers

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KARACHI: The Federal Board of Revenue (FBR) has directed the Pakistan Customs officers to ensure timely presence in their relevant departments. For this purpose, 9.30am sharp would be the arrival time while a grace time of 10 minutes will be given. Moreover, all the heads concerned have also been directed to send their attendance reports latest by 9:45 a.m to ... Read More »

FBR orders collectorates, RTOs to issue new department-specific cards to officials

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ISLAMABAD: The Federal Board of Revenue (FBR) has ordered all collectorates and regional tax offices (RTO) to issue new cards to officials. The FBR issued these orders after cancelling all those cards that were issued by the board itself. The FBR is of the view that every employee should have a card issued specifically by the department in which he works. The ... Read More »